Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.050%

Price spread now: BloFin against Injective+4.726%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.763%−$76 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 4.726% dearer against Injective than usual: you sell high and buy low: +$473 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.763%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	32m 17s	$4K	$48K	12x
Short	BloFin LINK-USDT	12.986	0.0220	get 0.0220% / 8h	3h 32m	$5.3M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BloFinbpOrdersPrice spread, now +4.726%Rate

Funding earned: $39.2
Price spread: +4.726% → 0.000%: $472.58
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $499.76
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 7 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 7 min ago	2.31 bp	8.8 bp −$9	13.1 bp −$131	29.3 bp −$2,928	65.8 bp −$32.9K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.984	+4.713%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.991	+4.769%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.984	+4.710%	$185K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0051%	8h	12.983	+4.702%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.008	+4.901%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.984	+4.712%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.988	+4.745%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.982	+4.698%	$392K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.987	+4.734%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.991	+4.762%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.984	+4.706%	$120.6M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	+4.677%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.983	+4.702%	$27.5M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.000	+4.839%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.983	+4.702%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.984	+4.710%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.989	+4.750%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	+4.734%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.982	+4.694%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.992	+4.774%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.976	+4.647%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.984	+4.711%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+4.720%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.013	+4.944%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.990	+4.758%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.983	+4.703%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+4.852%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.984	+4.710%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.967	+4.571%	$636K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	+4.679%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.985	+4.718%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.996	+4.806%	$925K	$2.8M	50x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	12.986	+4.726%	$5.3M	$15.8M	75x
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	12.991	+4.766%	$789K	$210K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.987	+4.736%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0355%	1h	12.998	+4.824%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.981	+4.684%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0537%	8h	13.001	+4.847%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0621%	1h	12.984	+4.712%	$344K	$30K	10x	as long as short